Calendar Year
1994 in US Banking
1,728 bank events are on record for 1994: 15 failures, 1,234 mergers or acquisitions involving a bank, credit union or bank holding company, and 479 enforcement actions.
15
Failures
$1.60B in failed assets
1,234
Mergers
Federal Reserve NIC, banking organizations
479
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
Jump to: Bank failures 1994 · Bank mergers 1994
How many banks failed in 1994?
15 banks failed in 1994, with $1.60B in assets. Each failure below links to its own page.
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
| Jul 7, 1994 | The Meriden Trust and Safe Deposit | $3.2M |
| Jun 10, 1994 | The Bank of Hartford | $321.5M |
| Jun 3, 1994 | Encino Savings Bank, FSB | $92.5M |
| May 19, 1994 | Barbary Coast National Bank | $10.7M |
| May 6, 1994 | Commercial Bank and Trust Company | $30.3M |
| Apr 14, 1994 | Superior National Bank | $20.0M |
| Apr 1, 1994 | Mechanics National Bank | $148.7M |
Which banks merged in 1994?
1,234 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1994.
See the fuller list: Bank mergers 1994 with largest deals and credit union mergers ›
| Date | Acquired | Acquirer |
|---|---|---|
| Sep 30, 1994 | The First National Bank of Alex | Brooks Bank, N.A. |
| Sep 30, 1994 | Green Mountain Bancorporation, Inc. | Colorado National Bankshares, Inc. |
| Sep 30, 1994 | PNC Employees Federal Credit Union | American Heritage Federal Credit Union |
| Sep 30, 1994 | The Employees N.W. Federal Credit Union | Qualstar Credit Union |
| Sep 30, 1994 | West Newton Savings Bank | Fleet National Bank of Massachusetts |
| Sep 28, 1994 | Island Bank of Collier County | SouthTrust Bank of Southwest Florida National Association |
| Sep 28, 1994 | Community Bank of Charlotte | SouthTrust Bank of Southwest Florida National Association |
| Sep 27, 1994 | United National Bancorporation | First Commonwealth Financial Corporation |
| Sep 26, 1994 | The Marian State Bank | Knoblauch State Bank |
| Sep 26, 1994 | The Edwardsville Bank | (unnamed) |
| Sep 26, 1994 | The Wyandotte Bank | (unnamed) |
| Sep 26, 1994 | The Home State Bank | First United National Bank and Trust Company |
| Sep 26, 1994 | The Home State Bank of Kansas City, Kansas | (unnamed) |
| Sep 26, 1994 | The Columbia Bank | Washington Trust Bank |
| Sep 26, 1994 | First American Bancshares, Inc. | Dickinson Financial Corporation |
| Sep 24, 1994 | WestStar Bank | Arvest State Bank |
| Sep 24, 1994 | First Federal Savings and Loan Association of Charlotte | Security Capital Bank |
| Sep 23, 1994 | Citrus National Bank | SouthTrust Bank of Central Florida |
| Sep 23, 1994 | The Peoples Bank | F&M Bank |
| Sep 20, 1994 | Mellon PSFS Acquisition Corporation | Mellon PSFS Bancorporation |
| Sep 19, 1994 | (unnamed) | The American National Bank of Texas |
| Sep 17, 1994 | Tri Cities Credit Union | Kane County Teachers Credit Union |
| Sep 17, 1994 | State Home Savings Bank, F.S.B. | KeyBank N.A. |
| Sep 17, 1994 | Eastern Trust Company | TrustCo Bank, National Association |
| Sep 16, 1994 | Bank of Anaheim, National Association | First Security Bank of California, N.A. |
| Sep 15, 1994 | First Jefferson Corporation | Southtrust of Mississippi, Inc. |
| Sep 15, 1994 | Landis Savings Bank, Sla | Covenant Bank |
| Sep 14, 1994 | Crestmont Federal Savings and Loan Association | Summit Bank |
| Sep 14, 1994 | Crestmont Financial Corp. | The Summit Bancorporation |
| Sep 13, 1994 | Lamb's Bancorporation Ltd. | First Holding Company of Park River, Inc |
| Sep 12, 1994 | Mutual Savings Bank of Rockingham County, SSB | Truist Bank |
| Sep 12, 1994 | Citizens Savings Bank, SSB | Truist Bank |
| Sep 12, 1994 | Century Bank | Mark Twain Bank |
| Sep 10, 1994 | First Buffalo Holding Company | Charter Bancorporation, Inc. |
| Sep 10, 1994 | First National Bank | First National Bank |
| Sep 10, 1994 | American Slovak Building and Loan Association of McKees Rocks, Pennsylvania | SSB Bank |
| Sep 9, 1994 | United Bank of Bismarck | First Bank of North Dakota, N.A. |
| Sep 9, 1994 | First Dakota Financial Corporation | U.S. Bancorp |
| Sep 3, 1994 | Valley Commercial Bank | West One Bank, Washington |
| Sep 3, 1994 | First South Bank of Ben Hill County, N.A. | Bankers First Savings Bank, FSB |
| Sep 1, 1994 | Pennsylvania Food Merchants Credit Union | Members 1st Federal Credit Union |
| Sep 1, 1994 | Community Independent Bancorp, Inc. | Community First Financial, Inc. |
| Sep 1, 1994 | Community Financial Bancorp, Inc. | Community First Financial, Inc. |
| Sep 1, 1994 | FGC Holding Company | Trans Financial, Inc. |
| Sep 1, 1994 | Pioneer Financial Corporation | Signet Banking Corporation |
| Sep 1, 1994 | Blair Cu | Co-Op Credit Union |
| Sep 1, 1994 | Liberty Bancshares, Inc. | CBI Security Corporation |
| Sep 1, 1994 | Anadarko Bancshares, Inc. | Falcon Bancorp, Inc. |
| Sep 1, 1994 | (unnamed) | Union Planters Bank of Missouri |
| Sep 1, 1994 | Continental Bank Corporation | Bankamerica Corporation |
The list holds 500 of the 1,234 mergers recorded for 1994.
Enforcement Actions in 1994
| Action date | Agency | Institution | Action |
|---|---|---|---|
| Nov 17, 1994 | OCC | Western Family National Bank | Prohibition/Removal Orders: McMahan, Richard A. |
| Nov 17, 1994 | OCC | Western Family National Bank | Prohibition/Removal Orders: McMahan, R. Roderick |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, Richard A. |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, R. Roderick |
| Nov 17, 1994 | OCC | Western Family National Bank | Civil Money Penalty (CMP): McMahan, Joanne S. |
| Nov 17, 1994 | FRB | Manufacturers Hanover Corporation | Prohibition from Banking: Daniel Young |
| Nov 15, 1994 | OCC_OTS | Valley River Trail Limited | Orders of Removal/Prohibition: Rolando J. Medina Jr. |
| Nov 15, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Bernard M. Trager |
| Nov 15, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Steven Trager |
| Nov 8, 1994 | OCC_OTS | University Bancshares, Inc. | Orders of Removal/Prohibition: J. Richard Collier |
| Nov 3, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Maria A. Haraus |
| Nov 3, 1994 | OCC | Credit One Bank, N.A. | Civil Money Penalty (CMP): Rice, Alvin C. |
| Nov 3, 1994 | OCC | Credit One Bank, N.A. | Prohibition/Removal Orders: Rice, Alvin C. |
| Nov 2, 1994 | FRB | CBC Bancorp, Inc. | Written Agreement: CBC Bancorp, Inc., New Haven, CT |
| Oct 27, 1994 | OCC | The First National Bank of Gatlinburg | Formal Agreement: The First National Bank Of Gatlinburg |
| Oct 27, 1994 | OCC_OTS | New Jersey Savings and Loan Association | Orders of Removal/Prohibition: Donald F. DeNucci |
| Oct 26, 1994 | OCC | The First National Bank and Trust Company of Junction City, Kansas | Formal Agreement: The First National Bank And Trust Company Of Junction City, Kansas |
| Oct 25, 1994 | OCC | The Farmers National Bank of Forney | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): The Farmers National Bank Of Forney |
| Oct 24, 1994 | FRB | The Blackshear Bank | Prohibition from Banking: Earl E. Echols |
| Oct 24, 1994 | FRB | The Blackshear Bank | Civil Money Penalty $1,000: Earl E. Echols |
| Oct 24, 1994 | FRB | Bank Sepah Iran | Civil Money Penalty $100,000: Bank Sepah Iran, Tehran, Iran |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Cease and Desist: Warren H. Young |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Civil Money Penalty: Warren Young |
| Oct 19, 1994 | OCC_OTS | Yorkville Federal Savings Association | Orders of Removal/Prohibition: Warren H. Young |
| Oct 11, 1994 | OCC_OTS | Cross County Savings Bank | Orders of Removal/Prohibition: Michael Cousin |
| Oct 7, 1994 | OCC | The First National Bank of Bangor | Civil Money Penalty (CMP): Hoffman, Leonard |
| Oct 5, 1994 | OCC | Chase Manhattan S.A. | Securities Enforcement Action: The Chase Manhattan Bank, N.A. |
| Oct 4, 1994 | FRB | California Center Bank | Cease and Desist Order: California Center Bank, Los Angeles, CA |
| Oct 3, 1994 | OCC_OTS | First Newport Federal Savings Bank | Orders of Removal/Prohibition: Annette D. Bernard |
| Oct 3, 1994 | OCC | The Private Bank & Trust, N.A. | Civil Money Penalty (CMP): Gisbert, Antonio |
| Oct 3, 1994 | OCC | The Private Bank & Trust, N.A. | Prohibition/Removal Orders: Gisbert, Antonio |
| Sep 29, 1994 | OCC_OTS | Fidelity Federal Savings & Loan Association | Orders of Removal/Prohibition: Armondo Felicetti |
| Sep 29, 1994 | OCC_OTS | Metropolitan Financial Corporation | Orders of Removal/Prohibition: Thelma A. Smith |
| Sep 28, 1994 | FRB | Citizens First State Bank of Walnut | Written Agreement: Citizens Bancshares, Inc., and Citizens First Bank of Walnut, Walnut, IL |
| Sep 28, 1994 | OCC | Summit National Bank | Prohibition/Removal Orders: Cavallari, Augustus I. |
| Sep 28, 1994 | OCC | Texas National Bank | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Texas National Bank |
| Sep 28, 1994 | OCC | Mayde Creek Bank National Association | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): Mayde Creek Bank, National Association |
| Sep 28, 1994 | OCC | First National Bank of Bellaire | Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank Of Bellaire |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Cease and Desist: Eugene N. Hooper |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Civil Money Penalty: Eugene N. Hooper |
| Sep 27, 1994 | OCC_OTS | First National Bank of Shenandoah | Orders of Removal/Prohibition: Eugene N. Hooper |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Bernard M. Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Cease and Desist: Steven Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Civil Money Penalty: Steven Trager |
| Sep 26, 1994 | OCC_OTS | Republic Bank & Trust Company | Civil Money Penalty: Bernard N. Trager |
| Sep 26, 1994 | OCC_OTS | (individual) | Orders of Removal/Prohibition: Edmond D. Costantini Jr. |
| Sep 26, 1994 | OCC_OTS | (individual) | Cease and Desist: Edmond D. Constantini, Jr. |
| Sep 23, 1994 | OCC | First Charter Bank, National Association | Formal Agreement: First Charter Bank National Association |
| Sep 23, 1994 | OCC | The First National Bank of Bayard | Formal Agreement: The First National Bank of Bayard |
| Sep 23, 1994 | OCC | The First National Bank of Bayard | Formal Agreement: Krantz, James |
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